US EditionBoG Cracks the Whip on Loan Fraud — Sanctions to Hit Borrowers and Directors Alike
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BoG Cracks the Whip on Loan Fraud — Sanctions to Hit Borrowers and Directors Alike
The Bank of Ghana (BoG) has launched a sweeping crackdown on wilful loan defaulters in a move aimed at tightening credit discipline, restoring lender confidence, and safeguarding the stability of the financial sector. The new directive, issued on August 13 to all regulated financial institutions, targets individuals and corporate entities that deliberately evade loan repayment or secure credit through fraudulent means. Rising non-performing loan…
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